The MLS is Too Powerful Not To Get Calls, It Must Be The Price !!!

Blog by Ian Watt | March 23rd, 2011

Vancouver Condo Real Estate Video Blog #649 - March 24, 2011

The MLS is Too Powerful Not To Get Calls, It Must Be The Price !!!

Ian Watt video blogs about how the MLS is too powerful in Downtown Vancouver to not generate interest from prospective buyers in the condo market. He adds that if there are absolutely no calls in the first week it must be because of the original listing price was too high. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years.

Ian Watt: Hi good afternoon it's Ian Watt
in Downtown Vancouver. I can always tell we missed the mark with the new
listing comes out and we don't get any phone calls the first week that
is a sure sign we are over priced. Generally when the new listing comes
out if it's priced appropriately were gonna get a few inquiries no
matter what the market is doing. However if we don't get any calls
chances are were over priced because the MLS is so powerful. Now, of
course we could wait for that one buyer cause all you need is one buyer
and it could take one month, two months to three months for someone to
come in and fall in love with the property. But if it's is a generic
condo which not unique in anyway whatsoever and we don't get any
inquiries at all. We are over-priced. My name is Ian Watt and if you
have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!